Thursday, July 4, 2024 07:32 PM
Pakistan to Consider Salary Hike for Public Sector Employees
- Government mulls 10-15% salary increase for public sector workers
- Reforms planned for pensions and Employee Old Age Benefit system
- Budget aligns with IMF guidelines for financial stability and growth
Image Credits: dialoguepakistanPakistan's upcoming budget aims to boost public sector employees' financial well-being through salary hikes and pension reforms, aligning with IMF guidelines for economic stability and growth.
Pakistan is gearing up to unveil its budget for the fiscal year 2024-2025 in June. The government is considering a salary hike of 10 to 15 percent for public sector employees, along with discussions on increasing pensions for retired officials and reforming the Employee Old Age Benefit (EOBI) system. These measures aim to improve the financial well-being of government workers and retirees.
The budget planning process is being shaped by conditions set by the International Monetary Fund (IMF) as Pakistan seeks a new bailout package. Collaborations with provincial authorities are in progress to finalize the proposed salary adjustments. The Ministry of Finance will carefully evaluate recommendations before making a final decision on these matters.
The upcoming budget in Pakistan holds significant implications for public sector employees and retirees. The potential salary increase and pension reforms signal the government's commitment to enhancing the welfare of its workforce. By aligning with IMF guidelines and engaging in consultations with relevant stakeholders, Pakistan aims to achieve financial stability and ensure sustainable economic growth.
